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by Jace Stolfo
on Tuesday, October 30th, 2012 at 10:06am.
The number of Boise bank-owned homes has dropped considerably from one year ago. In September 2011, REO homes accounted for 79 homes sales, compared to just 19 in September of this year. The biggest drop can be seen in the month of May where there was more than a 70% plunge from the year before. In the graph below, you can see a similar drop when looking at April and June. When gathering data for bank-owned homes in Boise ID, HUD homes are also included in the total.
When concerning the foreclosure market share, we should also look at short sales. While the number of Boise bank-owned homes has fallen, short sales have gone up slightly. This past July there were 61 short sales, compared to 48 in July 2011. But, over the past couple of months they have remained steady.
Overall, foreclosures have dropped dramatically over the past year; the biggest drop being Boise bank-owned homes. Since 2011, Boise foreclosures were at their highest in January of this year at nearly 60%. It has since dropped to 22% in September, a number that has remained steady since May of this year.